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Alderon Announces Further Board Appointments On Closing Of Pending Acquisition

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19 January 2010

January 19, 2010 – Alderon Resource Corp. (TSX-V: ALD) is pleased to announce that the followingfour individuals will join the board of directors of Alderon on closing of the pending acquisition of aprivate British Columbia company ("Privco"), by the issuance of 5 million post-consolidated commonshares of Alderon. Privco is party to an Option Agreement dated November 2, 2009 with AltiusResources Inc. ("Altius") pursuant to which Privco has the right to acquire a 100% interest in theKamistiatusset iron ore project in western Labrador. Altius is a wholly owned subsidiary of AltiusMinerals Corporation (TSX-ALS). Pursuant to the terms of the Agreement, Altius has consented to theassignment of the Option Agreement to Alderon. Other terms of the Option Agreement are described inthe Company's December 2, 2009, December 16, 2009 and January 15, 2010 News Releases.

Stan Bharti - Stan Bharti will bring over 25 years of business, management and financing experience toAlderon. Over the last ten years Mr. Bharti has been involved in acquiring, restructuring, and financingpublic companies. Mr. Bharti has raised over $2 Billion in public markets over the last five years. Hisexperience in public markets includes acquisitions of companies in Europe, Australia and North America.He holds a Masters Degree in Engineering from Moscow, Russia and University of London, England. Mr.Bharti will be appointed Executive Chairman of Alderon.

Bruce Humphrey - Bruce Humphrey is a mining engineer with over 30 years experience with such majorcompanies as Inco, Cominco and Noranda. He served as the President and Chief Executive Officer ofDesert Sun Mining Corp. from October 2004 to April 2006 where he contributed to the successfuldevelopment of the Jacobina Mine in Brazil. From May 1998 to May 2004, Mr. Humphrey served asSenior Vice President and Chief Operating Officer at Goldcorp Inc. during the re-development of its highgradeRed Lake mine. He is a member of the Professional Engineers of Ontario.

Brad Boland - Brad Boland is a Certified Management Accountant. He was the Chief Financial Officerof Consolidated Thompson Iron Mines Limited until July 2009. From May 2005 to September 2007, hewas at Kinross Gold Corp., most recently serving in the position of Vice President, Corporate Controller.Prior to that, from August 1998 to February 2005, Mr. Boland was at Goldcorp Inc., as CorporateController and the Vice President, Finance.

Patrick Gleeson - Patrick Gleeson is a practicing corporate finance and securities lawyer. Prior toestablishing his own private public company services corp, he was a lawyer at a major Canadian law firm,with a focus on mergers and acquisitions. He holds a J.D. and a M.A. from the University of Toronto, andobtained a B.A. from Queen’s University.

At closing of the acquisition of Privco, which will include a 2 for 1 share consolidation, the board ofdirectors of Alderon will consist of Stan Bharti, Mark J. Morabito, Bruce Humphrey, Brad Boland, JeffPontius and Patrick Gleeson. It is also intended that Mr. Morabito will be appointed President and CEO ofA/008214000/65235.1Alderon. The acquisition and the recently announced $10,000,000 private placement remain subject toregulatory approval.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on currentexpectations and assumptions that are subject to risks and uncertainties. Actual results could differmaterially because of factors discussed in the management discussion and analysis section of our interimand most recent annual financial statement or other reports and filings with the TSX Venture Exchangeand applicable Canadian securities regulations. We do not assume any obligation to update any forwardlooking statements.